To get educated these days, most students have to go into debt. And debilitating debt, experts say, could trigger a financial meltdown akin to the mortgage crisis if students don’t repay their loans. Continue Reading

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Maybe if we stopped treating College like it should be a recreational luxury resort with a 5 star dinning and luxury suites it would cost a little less. I believe that if a college provided a good education and provided a more basic housing and meal packages without all the luxuries they would be turning away students because they did not have room. A big part of the increase in costs in college are because of these unneeded, unnecessary amenities that have been added in the name of competition. Guess what keeping the cost low and providing a good education also gives you and advantage over other colleges.

It makes it even more difficult when you graduate with a degree in 13th Century English Literature.

What student wouldn’t apply for bankruptcy if they had the chance? Debt of $200,000, Assets of $14.68 and not likely to buy a house in the next 7 years. College is not a requirement, not everyone has to go to college today even though college recruiters are equal to a meth or crack dealer when it comes to selling their product.

What a poorly written article. The Herald should be ashamed to have re-published this piece.

“President Barack Obama is fighting the increase, while Republicans in the U.S. House of Representatives are supporting it.”

The House passed a bill last week extending the lower interest rate. The senate has yet to pass anything on this. (They can’t even pass a budget. Sen. Conrad thought about it as Chairmen of the Budget Committee but he could not stand up to Sen. Reid who slapped his hands.)

The federal gov should not even be in the business of backing these loans. Federal involvement in higher education is poisoning it anyway. As soon as federal money starts subsidizing something the price shoots up. Why is college so expensive? Schools have found a cash cow and jacked up the prices.

The sad fact is that students are paying for a BMW and getting a Yugo. While presidents love to pay vapid lip service to the mission of education, that disappeared years ago. Administrators and coaches make the highest salaries, while never setting foot in a classroom. At UND, the best example is the hockey coach, whose recent contract has the potential of paying him more in six years than a professor will earn in a career. And faculty? Say goobye to them. Nationwide, 30% of university teaching staffs are tenure-track and tenured faculty. The rest are TAs, adjuncts, and visiting people. Perhaps this explains why over 50% of UND undergrads take six years to get a degree. The idea of graduating “on time” is an anachronism. Students are now viewed as cash cows, whose role is to generate revenue streams. Thus admission standards are eliminated, and enrollment and tuition go up. When my daughter, with a high school diploma, but loads of work experience, starts a job at a higher salary than an entry-level PhD of the same age, it’s pretty clear a university degree is not a sine qua non for success.

Gene, most athletic departments are self-sustaining and get very little university money. How much revenue does the hockey team bring in to UND? How much revenue does the English department bring in to UND? Who are you going to pay more for, a coach which will earn you millions or a professor who will earn you thousands.

You are simply restating the myth of athletic revenue. How much money does hockey bring to UND? You don’t know. I don’t know. Why? Because UND doesn’t release any figures. You’d think a place so hungry for positive PR would gladly issue a P/L statement for hockey if it brought in so much money. If and when you get the audited figures, let me know.

What myth is that? As long as the athletic department is part of the University of North Dakota, those figures are available, you may have to ask or file a FOA request. If hockey coaches are paid with public money, there’s likely a database online somewhere where state salaries are reported. I don’t live in ND, but in the state I live in I can look up and tell you exactly the dollar amount every coach/state employee over $50,000 is paid with using state dollars. In the state I live in, the widely known head football coach makes 5-6 times what highest paid college professor makes, but in state funds he’s paid about half of what that professor is paid. The remainder is made up with athletic department funds. This isn’t myth, it’s fact.

The myth is that athletic departments operate in the black. They don’t. Even the NCAA admits that a handful barely break even. Just about all expenditures associated with athletics come out of the general budget. The U of Mich plays six football games in front of 106,000 fans, and still loses money. Some schools actually charge students an athletic fee, not for their activities, but for the AD. UND is quite happy to let people think hockey makes money. But as I said, they never come out with an audited P & L statement. They are willing to spend that much on hockey and the coach believing it will generate alumni giving. Fact is, studies show that most donations are earmarked for academics, not due to athletic success.